Is There a Pre-Explosion Calm in Cryptocurrencies: Very Calm According to the USA! - Coin Bulletin

While the economic data of the US remains strong, the crypto markets had a calm week, and prices recovered from recent lows, gaining stability at important support levels.

Augustine Fan from SignalPlus stated in an interview with CoinDesk that the "strong" economic data from the US continues to remain robust, and compared to the weak sentiment in the market, the current weakness has been pushed excessively forward compared to the fundamental economic data.

Macro observers are evaluating things more cautiously than reality, and we believe that the underlying economy is much stronger than the concerns.

The crypto markets also experienced a similarly calm week. Prices moved with generally limited fluctuations and recovered from recent lows. According to Fan, from a technical perspective, prices are still in a negative downtrend, but are showing stabilization at key support levels**. While Ethereum (ETH) settles at the highs of 2022, the next major support level is indicated to be around **1,500 dollars.

Signals of Stability for Markets

Although there is a general stagnation in the crypto markets, technical indicators are showing signs of stabilization around support levels. This situation suggests that the markets may continue to remain at current levels without a major change.